 "A sharp fall in global crude benchmarks will reduce costs of fuel, both oil and gas, to Indian consumers if State-run oil companies choose to pass them on")
India will not buy liquefied natural gas (LNG) produced from Russia’s Arctic LNG 2 project.
India will not buy liquefied natural gas (LNG) produced from Russia’s Arctic LNG 2 project, which is sanctioned by Western countries, Oil Secretary Pankaj Jain said on Friday.
“We will not buy (supply from) Arctic LNG 2. We are not buying any sanctioned commodity. Something which has broad-based sanctions, we are not touching it,” Jain told reporters.
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The Arctic LNG 2 project by Russia’s Novatek is subject to Western sanctions over Russia’s war with Ukraine. The United States has also imposed sanctions on hundreds of entities and individuals for supporting Russia’s war effort including companies supporting the development of Arctic LNG 2 project and its shipment of LNG.
Novatek has said media allegations the company was involved in establishing and managing a “shadow fleet” for the Arctic LNG 2 project were untrue.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 27 2024 | 1:32 PM IST
